ConvertibleActiveBTC
0.875% Convertible Notes due 2031
MSTR-Mar31
$159.09▲ 4.91%
BTC Holdings
843,738 BTC
Total Debt
$18.10B
Leverage
7.3%
mNAV
0.90x
Outstanding
$603.66M
Issue date
2024-03-19
Principal
$603.75M
Coupon
0.88%
Maturity
2031-03-15
Conversion price
$232.72
ITM Status
OTM (-31.6%)
Terms & Documentation
Terms
- BTC strategy
- Yes
- Ranking
- Senior unsecured
- Settlement
- Issuer election
- Payment frequency
- Semi-annual
- Payment dates
- Mar 15, Sep 15
- Rate type
- Fixed
- Forced conversion
- On or after Mar 22 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Call provision
- On or after Mar 22 2028 if stock >= 130% of conversion price for 20 of 30 consecutive trading days
- Put provision
- Holders may require repurchase on Sep 15 2028 at 100% of principal plus accrued interest, or upon fundamental change
- Use of proceeds
- BTC acquisition
Participants
Holders & Underwriters(1)
- Form 8-K (0.875% converti…Citigroup Global Markets Inc.underwriter$603.8Mas of 2024-03-19Representative of the several initial purchasers
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2026-03-31 | — | $603.66M |
| 2024-03-19 | Issuance | $603.75M |
- 2026-03-31 — $603,659,000Note 5 — Long-term Debt
- 2024-03-19 — $603,750,000